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Wait and buy a breakout above 1.42 towards 1.43.

Wait and buy a breakout above 1.42 towards 1.43. | 14 June 2021

14 June 2021, GBP/USD

Wait and buy a breakout above 1.42 towards 1.43.

Wave Analysis
The British pound is currently in a range, not going above 1.42147 or below the level 1.40878. If the price breaks and closes above the upper level, then this will mean we are continuing long with the last impulsive wave (v) to the upperside and should breakout beyond 1.43 with the next ideal target set at 1.45. On the flipside, should the price break below the level 1.40878, then this will be a good place to consider a possible long term sell position. The anticipated bearish price rally is the continuation of a corrective wave count and could see the price breakout below 1.37515 with the next ideal target set around 1.33.
Trade Recommendations:
Wait and buy a breakout above 1.42 towards 1.43.

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Bob Stan
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